Intelligent Railways TMS Market | Growth Prospects 2023-2030

Triton Market Research presents the ‘Global Intelligent Railways Transportation Management Systems Market’ report sectioned by Component (Hardware [Information & Rule Display Systems, Security & Surveillance Cameras, Line Wires, Sensors, Other Hardware Components], Software [Database Management Systems, Smart Traffic Management Analysis Software, Video Recording Software, Other Software Components], Service [Support & Maintenance Services, Cloud Management Services]), by Application (Automated Ticketing, Automated Traffic Control, Passenger Information Management, Other Applications), and by Regional Outlook (Asia-Pacific, Latin America, Europe, Middle East and Africa, North America).

The report further discusses the Market Summary, Industry Outlook (Parent Market Analysis, Impact Analysis, Market Maturity Analysis, Porter’s Five Forces Analysis, Regulatory Framework, Industry Components, Key Market Strategies, Key Buying Impact Analysis, Drivers, Challenges, Opportunities, Analyst Perspective), Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

Triton’s research report implies that the global intelligent railways transportation management systems market is likely to expand at a CAGR of 10.95% during the forecast years from 2023 to 2030.

According to Organization for Economic Co-operation and Development (OECD) projections, passenger transport will surge by 2.3 times and freight transport by 2.6 times, by the year 2050. Such developments are expected to enhance the need for optimizing key functioning areas of passenger and freight service providers.

Hence, they are largely turning to technology and automation, which is expected to favor the growth of the studied market over the forecast period. However, it is important to note that the deployment of IRTM systems is a time-consuming, cumbersome, and cost-intensive process. This largely hinders their adoption, creating challenges in the path of market growth.

The Asia-Pacific is expected to observe the fastest growth in the global market over the forecasted period. The rising adoption of IoT, rapid urbanization, the need for efficient traffic control, and government initiatives encouraging smart transportation systems are some of the key factors influencing the demand for intelligent railways TMS, which is expected to foster the regional market’s growth over the forecasted period.

Leading players engaged in the intelligent railways transportation management systems market include Kuebix LLC, Denso Corporation, Tata Consultancy Services (TCS), IBM Corporation, Oracle Corporation, SAP SE, Siemens AG, 3GTMS Inc, Blue Yonder, and Thales Group.

The studied market is characterized by moderate-to-high product differentiation, rising product penetration levels, and intense competition. Major vendors, such as SAP SE, 3GTMS, and IBM Corporation, boast of a strong client base, and are thus less impacted by market competition.

However, other players compete intensely to gain higher percentages of the market share. To attain this goal, one of the key strategies adopted by market players is the focus on R&D and product innovation. Apart from that, M&A deals have also emerged as preferable strategies for growth.

For instance, Denso Corporation, a leading mobility solutions supplier, and Aisan, a renowned powertrain solutions supplier, announced their agreement to transfer the former’s fuel pump module business to Aisan. With such efforts by companies, the market for intelligent railways transportation management systems is poised for growth.